got a few MNCs and local companies who need ppl specialized in comms. In fact many embedded system companies here r doing comms products, or at least needs it as module of their products.
it is somehow boring and needs a lot of experience, maybe tht's why not many ppl like. but with all the wireless, mobile and satellite products getting popular, good comms engineers will be well demanded. however, for companies doing system-level integration instead of complete in-house development, a 20-person project might only need 1 or 2 persons specilized in comms, as general knowledge will be enough for integration purpose. so it would be better if u have a good fundation of other aspects such as hardware or firmware design, and with comms as ur nich strength.
if u want to be a hardcore comms developer, then it is recommended for u to persue a phd. As far as i know, my fren's company did develop the entire wireless module, from RF hardware to baseband, in house. they got 2 or 3 phds with a few years of experience to handle the design. however, i guess very few companies here do in-house development of comms modules, so u gonna search hard. Plz correct me if you have better understanding of the industry.